About This Property
Greystone offers 36 low-income units in Rainbow City, AL, comprising four 1-bedroom, twenty 2-bedroom, and twelve 3-bedroom apartments. The property, placed in service in 2006, serves families and disabled residents through 9% LIHTC credit financing and HOME funding. Management and leasing inquiries can be directed to the property contact.
Property Details
Fair Market Rent - Etowah County, AL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $637 |
| 1 Bedroom | $817 |
| 2 Bedroom | $940 |
| 3 Bedroom | $1,170 |
| 4 Bedroom | $1,252 |
Income Limits - Etowah County, AL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,350
- Very Low (50%)
- $22,250
- Low (80%)
- $35,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,400
- Low (80%)
- $40,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,600
- Low (80%)
- $45,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,750
- Low (80%)
- $50,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,300
- Low (80%)
- $54,900
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,850
- Low (80%)
- $58,950
- Extremely Low (30%)
- $39,400
- Very Low (50%)
- $39,400
- Low (80%)
- $63,000
- Extremely Low (30%)
- $41,950
- Very Low (50%)
- $41,950
- Low (80%)
- $67,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,350 | $22,250 | $35,600 |
| 2 Persons | $17,420 | $25,400 | $40,650 |
| 3 Persons | $21,960 | $28,600 | $45,750 |
| 4 Persons | $26,500 | $31,750 | $50,800 |
| 5 Persons | $31,040 | $34,300 | $54,900 |
| 6 Persons | $35,580 | $36,850 | $58,950 |
| 7 Persons | $39,400 | $39,400 | $63,000 |
| 8 Persons | $41,950 | $41,950 | $67,100 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Rainbow City, AL?+
The Fair Market Rent (FMR) for Etowah County, AL is: $637 (Studio), $817 (1BR), $940 (2BR), $1170 (3BR), $1252 (4BR). Actual rent at subsidized properties like Greystone is typically 30% of household income or less.
What size apartments are available at Greystone?+
Greystone offers the following unit types: 4 One-Bedroom, 20 Two-Bedroom, 12 Three-Bedroom units, for a total of 36 units.
What is the price range for apartments in Rainbow City, AL?+
Based on Fair Market Rent for Etowah County, the estimated price range is: 1-bedroom: $817, 2-bedroom: $940, 3-bedroom: $1170. Actual rent at Greystone may be lower for income-eligible households.
How do I apply for housing at Greystone?+
Greystone is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Etowah County, AL?+
For a 4-person household in Etowah County, AL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,750, Low Income (80% AMI): $50,800. These limits are set by HUD and updated annually.
Who is eligible to live at Greystone?+
Greystone primarily serves families, persons with disabilities, UNSPECIFIED. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Greystone?+
Greystone is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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